Trump threatens to cut Exxon out of Venezuela oil after CEO ‘plays too cute’ with skepticism

President Donald Trump is threatening to sideline Exxon Mobil over unfavorable comments made by the company’s CEO.

Following the capture of Venezuelan President Nicolas Maduro, Trump encouraged American oil companies to invest in restructuring the energy sector. He was asked whether any companies had made “commitments” while speaking to reporters aboard Air Force One on Sunday.

Watch:

(Video Credit: LiveNOW from FOX)

He declined to provide any specifics, but did note that he is considering keeping Exxon “out” of the deal, following comments made by CEO Darren Woods.

“I didn’t like Exxon’s response. You know we have so many that want it. I’d probably be inclined to keep Exxon out,” he said. “They’re playing too cute.”

Woods publicly stated that Venezuela is currently “uninvestable,” casting doubt on Trump’s plan for the region during a White House meeting. He also said that several large changes would need to be made in order to create a better atmosphere for investors.

“We’re confident that with this administration and President Trump working hand‑in‑hand with the Venezuelan government that those changes can be put in place,” the CEO said, adding that his company is prepared to dispatch a team to Venezuela in the interest of evaluating the country’s oil industry.

“An Exxon spokesperson did not immediately respond to a request for comment. Shares were last seen 1.1% lower in premarket trade on Monday,” CNBC reported. “Speaking alongside several other American oil executives on Friday, Woods said Exxon would need to see ‘some pretty significant changes’ if it was to re-enter the country for a third time.”

“Venezuela seized Exxon’s and ConocoPhillips’s assets in 2007, and Caracas owes the companies billions of dollars in outstanding claims from arbitration cases,” the outlet noted.

Trump addressed security guarantees during his conversation with reporters, saying, “We have guarantees that they’re going to be safe, that there’s going to be no problem, and there won’t be. There’s not going to be a problem. They had problems in the past because they didn’t have Trump as a president. They had stupid people.”

X users weighed in:

How is it investable when the same government is still in charge?

— Conservative Thinker 🇬🇧🇺🇸 (@Thinkerist) January 12, 2026

Chavez stole billions from ExxonMobil. Kind of surprised they don’t want to try and get that back.

— Fantastic Mr. Fox (@FantasticMrFox) January 12, 2026

Trump to Exxon CEO: “You think Venezuela’s uninvestible? Fine. Then stay home and watch while the rest of us pump 50 million barrels straight to American refineries. Your loss, big fella.” 😏

— The Sick Gimp (@GimpNft) January 12, 2026

It’s almost like removing one dude doesn’t change how a country is run.

— TBartels (@TBartels1) January 12, 2026

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